Consumer basket
Encyclopedia
The basket of consumer goods or consumer basket is the market basket
intended for tracking the prices of consumer goods and services, i.e., it is a sample of goods and services, offered at the consumer market. The consumer basket is the base for the definition of the Consumer Price Index
(CPI).
The list used for such an analysis would contain a number of the most commonly bought food and household items. The variations in the prices of the items on the list from month to month give an indication of the overall development of price trends.
The market basket may be further classified into Household Items, Personal Goods and Services, Tobacco, Leisure Goods, Households Services, Housing, Alcoholic Drinks and other categories, depending on the country's survey.
Market basket
The term market basket or commodity bundle refers to a fixed list of items used specifically to track the progress of inflation in an economy or specific market....
intended for tracking the prices of consumer goods and services, i.e., it is a sample of goods and services, offered at the consumer market. The consumer basket is the base for the definition of the Consumer Price Index
Consumer price index
A consumer price index measures changes in the price level of consumer goods and services purchased by households. The CPI, in the United States is defined by the Bureau of Labor Statistics as "a measure of the average change over time in the prices paid by urban consumers for a market basket of...
(CPI).
The list used for such an analysis would contain a number of the most commonly bought food and household items. The variations in the prices of the items on the list from month to month give an indication of the overall development of price trends.
The market basket may be further classified into Household Items, Personal Goods and Services, Tobacco, Leisure Goods, Households Services, Housing, Alcoholic Drinks and other categories, depending on the country's survey.